Patrizia acquires new residential project in Leipzig

Patrizia Immobilien has completed the acquisition of Residenz am Waldplatz in Leipzig. The acquisition was broked by CG Gruppe for a real estate fund managed by Patrizia. The price of the deal was not disclosed. Patrizia plans to developed 74 apratments in six two- to five-story buildings, totaling 7,800 sqm. The project will go up in the city's Back district. “Leipzig has become an important financial and business hub in Germany, with one of the strongest local economies in the eastern German Länder, and an increasingly dynamic and popular cultural and leisure offer,” said Johannes Altmayr, head of residential transactions at Patrizia.